The Government Service Insurance System (GSIS) has earmarked P18.5 billion in emergency loans to support 864,089 members and pensioners impacted by Tropical Storm Carina and the southwest monsoon (Habagat) in Batangas, Rizal, and the National Capital Region (NCR).
The GSIS Emergency Loan program, available from July 26 to October 28, 2024, aims to provide immediate financial relief to those affected.
GSIS members and pensioners with existing emergency loan balances can borrow up to P40,000, allowing them to clear previous loans and access a net amount of P20,000.
Those without existing loans can apply for up to P20,000. The loan features a low interest rate of 6% per annum with a three-year repayment period.
To qualify, active members must not be on unpaid leave, have no pending administrative or legal cases, and have made at least six monthly premium payments. Their net take-home pay must be at least P5,000, as required by the General Appropriations Act.
Old-age and disability pensioners must have a net monthly pension that is at least 25% of their gross pension after loan amortization.
Eligible members can apply for the loan through the GSIS Touch mobile app or via the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branches, major government offices, provincial capitols, city halls, municipal offices, and selected Robinson’s and SM malls.
